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Horizon is a community bank serving northern and central Indiana, and southern, central and the Great Lakes Bay regions of Michigan. Our focus is to anticipate and fulfill customer needs with exceptional service and sensible advice. This philosophy is what has kept us growing stronger than ever since 1873.

Horizon is a community bank serving northern and central Indiana, and southern, central and the Great Lakes Bay regions of Michigan. Our focus is to anticipate and fulfill customer needs with exceptional service and sensible advice. This philosophy is what has kept us growing stronger than ever since 1873.

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Invest so you can adventure

None of us can predict the future, but one thing is for sure: The sooner you start investing money, and building good credit, the better off you’ll be in the long run. And the more you’ll get to enjoy your future adventures!

Why invest now?

Retirement seems like a long way off, but trust us: Time flies. And starting now will put you ahead of the crowd later. Ever heard of compound interest? It’s how money multiplies over time. Here’s how it works:

Remember “The Rule of 72”Divide 72 by the annual interest rate your money is earning. The result, is how many years it takes for your money to double, assuming you make no more withdrawals or contributions. And it will double again after the same number of years.

How to double your money even faster:

1) Make monthly contributions.

2) Invest in stocks or mutual funds, which fluctuate, but can earn high average percentage rates over time.

Here’s what the Rule of 72 can do for you:

Current investment, at age 20

Interest earned on account

Additional contribution each month

# of years to double your money (72 ÷ interest rate)

How much you’ll have at age 40

How much you’ll have at age 50

$500

5%

$0

14.4

$ 1326.65

$2160.97

$500

15%

$0

4.8

$8,183.27

$33,105.89

Just how much difference can a small monthly contribution make?

$500

5%

$50

(varies with additional contributions)

$22,158.20

$44,017.45

$500

15%

$50

(varies with additional contributions)

$78,869.34

333,080.04

What should you invest in?

Talk to a Horizon Bank financial advisor to see what’s best for you. Stocks, mutual funds, and other options are available to you.

Remember that none have guaranteed earnings. Instead, their returns go up and down over the short term, with potential for very high average percentages over time. That’s why they make great, long-term investments.

Think you can’t afford it?Do you ever go out to eat? Do you buy drinks in coffee shops or gas stations? Do you go to movies or buy books and music often?

You can enjoy all these treats once in a while. But doing any of these things just a little less often will give you a small amount of extra money to put away. And as you can see, that small amount can become huge later on. Particularly if it’s compounded even further by an employer matching opportunity (which many companies offer as a benefit of employment).

Plus, your own contributions can be made directly out of your paycheck before you spend the money elsewhere. So you’ll never notice that they’re gone.

Don’t forget to give yourself credit! You deserve it.

While you’re at it, build yourself a good credit score, too. You can do that by making monthly payments (on a car, credit card, or other loan) on time, every time. Be sure you don’t ever commit to a loan that’s more than you can afford!

If you default on payments, your credit score can be damaged. But a good credit score will make it easier to get an apartment, house, new car, and other things you’ll want and need as you get older.